Lets buy a casino!

I read this today, what if we all chipped in and bought it and turned it into our ideal casino: good games, comps, etc... It could have everything we always wanted in a casino!

Hooters Up For Auction

My first thought was "Look at you. You've been dealing, what? 2 weeks now? And already you think you're smarter than the boss and want to take over the place." LOL

There are lots of casinos that you can buy, and their management, good will, employees, licenses, contracts with suppliers are already intact. Plus you have limited liability because of the structure of the ownership that you are buying.

Figure it out yet?

http://alanbestbuys.com/id103.html

The licensing process for owners and executives is rigorous and often takes two years in Nevada.

Quote: AlanMendelson

There are lots of casinos that you can buy, and their management, good will, employees, licenses, contracts with suppliers are already intact. Plus you have limited liability because of the structure of the ownership that you are buying.

Sounds like a casino I "owned" once, before the parent company was bought out by a bunch of farmers and the new parent forced me to shut down about six months ago.

(Translation: Zynga (the company that runs FarmVille) bought out DNA (the company that ran Casino City), and the first thing Zynga did was to shut Casino City down. No, there is no CasinoVille...not yet, anyway.)

Quote: FleaStiff

The licensing process for owners and executives is rigorous and often takes two years in Nevada.

Quite expensive too. However, you never get anywhere complaining about the problems. I 'm in for $20.

Quote: NicksGamingStuff

I read this today, what if we all chipped in and bought it and turned it into our ideal casino: good games, comps, etc... It could have everything we always wanted in a casino!

I'm pretty sure this is like Alcoholics Anonymous opening up a bar that's run by the people in it... the only ones who would show up are those who are supposed to be cured.

The casino would only appeal to people who are on this website; so basically, we'd be investing in a casino where we would all be playing...

I'm in!

Heck, just start an invitation only, online casino: the Wiz could oversee everything to make certain it's honest.

My concern is that, as Paco has often stated, casino owners do not gamble. Even the most ardent player may find, upong owning or managing a casino, that 6:5 and airport deuces wild make better business sense (Now pardon me while I get the hell out of here fast!)

Quote: Nareed

My concern is that, as Paco has often stated, casino owners do not gamble.

The Tropicana (next door) in 2006 had :
Net revenues . $162,879
Operating income . $32,062
Net income . $8,782

In 2010 the figures were
Net revenues . $ 54,184
Operating (loss) . ($42,893)
Net (loss) . ($43,820)

So Tropicana had a 67% drop in revenue over 4 years.And that is with ALEX YEMENIDJIAN as CEO, who is very respected in the industry. In comparison, Hooters has never made money. Not even in the good years.

Tropicana is doing much better for the first 9 months of 2011
Casino $ 25,553
Room $24,608
Food and beverage $18,952
Other $2,961
Gross revenues $72,074
Less promotional allowances ($6,922)
Net revenues $65,152

Tropicana owns approximately 34 acres of land where and is a 1,658 room hotel that currently offers 1,375 remodeled hotel rooms and a 50,000 square foot casino floor featuring approximately 727 slot machines and 30 gaming tables.

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Personally, I have thought that Hooters had such low revenue at their tables, that they should try some experiments. Pay for play table games with zero house average for one. Or they should give it up, and go for naked blackjack dealers (aka. Atlantic City Resorts Casino).